Repay Holdings (RPAY) just unveiled an announcement.
Repay Holdings Corporation and its subsidiaries have revamped their financial strategy by entering into an upgraded $250 million secured credit facility with various lenders, managed by Truist Bank. This new credit agreement, which replaces a prior $185 million facility, comes with flexible terms allowing for potential increases in the principal amount, subject to certain conditions. The facility, backed by company assets, features competitive interest rates linked to performance ratios, and includes covenants to ensure responsible financial management. It’s set to mature five years from the closing date, with options for extension, providing a robust financial framework for the company’s future endeavors.
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